Ripple (XRP) Daily Price Forecast – July 31

XRP/USD Medium-term Trend: Ranging

Yesterday, July 30, XRP price was in a sideways trend. The XRP price is yet to make any significant movement. However, the bears have pushed the price to the bottom of the range bound zone. The XRPUSD pair has no enough buyers to push XRP price to the resistance level of the range bound zone. Meanwhile, the XRP price will continue its sideways trend.

Nevertheless, the XRP price is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. Also, the MACD line and the signal line are below the zero line which indicates a sell signal. Nevertheless, the relative strength index period 14 is level 32 which indicates that the market is oversold suggesting bulls to take control of the market.

XRP/USD Short-term Trend: Bearish

On the 1-hour chart, the XRP price is in a sideways trend. The MACD line and the signal line are below the zero line which indicates a sell signal. In the same vein, the XRP price is below the 12-day EMA and the 26-day EMA which indicates that the bearish trend is ongoing.